P10-43A Prepare a budget with different volumes for planning (Learning Objective 5) Outrageous Bubbles, Inc., produces multicolored bubble solution used for weddings and other events. The company's master budget income statement for March follows. It is based on expected sales volume of 55,000 bubble kits. OUTRAGEOUS BUBBLES, INC. Master Budget Income Statement Month Ended March 31 Sales revenue $170,500 Variable expenses ost of goods sold Sales commissions 68,750 13,750 5,500 Fixed expenses 30,000 20,000 15,000 7,000 $160,000 10,500